Of $5.4 billion pledged for Gaza, only a fraction delivered

A general view shows the ruins of houses which witnesses said were destroyed by Israeli shelling during the most recent conflict between Israel and Hamas, in the east of Gaza City December 1, 2014. REUTERS/Mohammed Salem

GAZA (Reuters) - Two months after donors pledged $5.4 billion (3.44 billion pounds) to help rebuild Gaza after the war between Israel and Hamas, Palestinian, U.N. and other officials say barely 2 percent of the money has been transferred.

The conference in Cairo had been hailed as a success, with Qatar promising $1 billion, Saudi Arabia $500 million and the United States and the European Union a combined $780 million in various forms of assistance.